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Capital make large scale production and greater degree of specialization possible. Thus with capital accumulation the advantages of large scale production and specializations are obtained. The advantage of large scale production and specialization is that they greatly increase output and productivity and there by brig done the cost of production per unit. Without adequate capital accumulation neither the scale of production can be neither increased nor greater specialization and division of labour in the production process is possible. Hence capital accumulation by increasing the scale of production and specialization increases the production and productivity in the economy and thereby promotes economy’s growth.
composite supply v/s joint supply
The Short Run versus long Run - Short-run: Period of time in which the quantities of one or more production factors cannot be changed. These inputs are called as fi
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In a competitive market, the market demand is Qd = 150 - 5P and the market supply is Qs = 5P - 10. As a result of a price ceiling imposed at $14, the new consumer surplus and produ
In a perfectly competitive market the price of the product is?
what is the second best?prove the theorem with the help of a diagram?
give assumption, rules/formulas and demonstrate that ramsey prices are the seconnd best pricing. explain clearly.
Individual demand curves for two perfectly competitive market TC1=10q1+1/2q1^2+100 = firm 1 TC2=10q2+q2^2+100
Measures to control inflation: Fiscal policy is one of the two main macroeconomic policies used to control aggregate demand and thereby achieve economic stability. Fiscal meas
describe engineering cost theory in detail
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